DislikedI have put in a sell stop on the AUD CAD, descending triangle. Entry below support line.
Any feedback?
Just thought I start posting some of my trades and get some constructive criticism.Ignored
Thhe danger of setting orders like that is if you get a 'false breakout' and quick retrace you could get stopped out. It is much 'safer' to wait for the breakout and then wait for price to retrace to the previous support area and the go short...but obviously it does not always retrace and then you will miss the break.
Alternatively if some PA presents itself within the range this could be a good clue as to which direction the breakout will occur.